Indian stock indices, BSE Sensex and Nifty50 declined approximately 1 per cent intraday on Thursday as major companies like HDFC Bank, TCS and Reliance faced substantial selling pressure.

TCS results will give an indication of what is in store for the IT sector. The strength of the US economy and the depreciation of rupee will be tailwinds for the IT sector.

Equity benchmark Sensex crashed over 600 points in intraday trade, while the Nifty 50 came closer to 23,500 on the downside.

The Indian stock market is likely to open on a cautious note as indicated by the GIFT Nifty, which is down by 20 points in early trade currently at 23,703. The muted sentiment comes amid a broader sell-off across Asian markets,

With the dawn of the Q3 FY25 results, the Indian stock market opened lower on Thursday as selling was seen in the auto, IT, PSU bank and financial service sectors.

On January 8, strong backing from Reliance Industries prevented major indices from significant declines. Oil and gas stocks surged due to rising crude prices, while support from the IT sector and ITC share rebounds helped the indices recover to end the session flat.

This also comes at a time when the rupee hit an all-time low, though its drop was attributed to both volatile domestic equities and a strengthened US dollar

Indian stock market benchmarks Sensex and Nifty 50 fell 0.80% in intraday trade on January 9, marking the second consecutive session of decline due to weak global cues and rising US dollar and bond yields.

Indian benchmark indices Nifty and Sensex staged a modest recovery on Wednesday, closing slightly in the negative as a rebound in IT stocks provided support. Gains in Reliance Industries lifted the oil and gas sector,